Frequently Asked Questions

Generally, no! As a mortgage broker in Adelaide, my service is usually free for you. I get paid a commission by the lender when your loan settles. This means you get expert advice, access to 30+ lenders, and me handling all the paperwork—all at no extra cost to you. No hidden fees, no surprises.

When you go to a bank, they can only offer you their own products. When you chat with Borrow Well, I compare options from over 30 major lenders and niche banks to find the best rate for your situation. I work for you, not the bank, ensuring you get the loan that fits your life, not their sales targets.

I know speed matters, especially in the fast-moving Adelaide property market. Because our process is digital and paperless, we can often get your application submitted much faster than a traditional bank branch. Depending on the lender, we often see pre-approvals within 24 to 48 hours of submission but as short as 2 hours is possible.

Absolutely. This is my specialty! Many banks say "no" to business owners, but I know which lenders look at the bigger picture. We can explore Alt-Doc (Alternative Documentation) loans that use your Business Activity Statements (BAS), business bank statements, or accountant’s declaration to prove your real income, rather than just looking at your tax return.

Yes, we do. In the industry, we call these Alt-Doc loans. They are perfect for freelancers, tradies, and business owners in South Australia who have strong cash flow but complex tax structures. I can help you find competitive rates without needing two years of tax returns.

South Australia has some great incentives! You may be eligible for the First Home Owner Grant (FHOG) of up to $15,000 for new builds. Plus, the state government has introduced Stamp Duty exemptions for eligible first home buyers. I can help you figure out exactly what you qualify for and help you apply for it.

Life happens, and I’m not here to judge. Whether you have a few defaults or just too many credit cards, we can look at debt consolidation loans. This rolls your debts into your home loan to lower your monthly repayments and give you a fresh start. Let’s chat about your options confidentially.

Not unless you want to! Borrow Well is a digital-first Adelaide broker. We can chat via Google Meet, phone, or text whenever it fits your schedule—even on lunch breaks or after work. We use secure online portals for document uploads, so you can apply for your home loan from your couch without printing a single page.

Ideally, lenders like to see a 20% deposit to avoid Lenders Mortgage Insurance (LMI). However, many lenders allow you to buy with as little as 5% genuine savings. If you have a family member willing to help, we can also look at Guarantor Loans, which might allow you to buy with $0 deposit. Let’s do the math on your specific situation.

"Yes! Many lenders offer LMI Waivers for specific professionals (Doctors, Nurses, Lawyers, Accountants, etc.). This means you could borrow up to 90% of the property value without paying thousands in Lenders Mortgage Insurance. As a niche broker, I know exactly which banks offer these waivers and which professions are on the 'approved' list."

Building a home works a bit differently than buying an established one. You will have a Construction Loan with 'Progressive Drawdowns.' This means the bank pays the builder in stages (Slab, Frame, Lock-up, etc.), and you only pay interest on the amount drawn down so far—keeping your repayments low while you build. I’ll manage these payments with the builder for you.

There are some small government fees involved in switching titles, but the good news is that many lenders offer Refinance Cashbacks (often $2,000+) to cover these costs and put extra cash in your pocket. I’ll calculate the total 'Switching Cost' vs. your 'Interest Savings' so you can see exactly how much better off you’ll be in black and white.

Try me! I love a challenge. Whether it’s complex income, a unique property, or a credit history hiccup, I have access to niche lenders that the big banks don't talk about. Send me a text or book a quick chat—it costs nothing to find out.